Earnest Partners LLC cut its position in shares of Novartis AG (NYSE:NVS) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,997,788 shares of the company’s stock after selling 8,479 shares during the period. Novartis accounts for about 1.6% of Earnest Partners LLC’s investment portfolio, making the stock its 9th largest position. Earnest Partners LLC owned approximately 0.09% of Novartis worth $167,734,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Bank & Trust Co raised its stake in shares of Novartis by 5.5% during the 3rd quarter. Capital Bank & Trust Co now owns 138,207 shares of the company’s stock worth $11,865,000 after purchasing an additional 7,201 shares in the last quarter. Atlantic Trust Group LLC raised its stake in shares of Novartis by 54.2% during the 3rd quarter. Atlantic Trust Group LLC now owns 72,427 shares of the company’s stock worth $6,218,000 after purchasing an additional 25,452 shares in the last quarter. Rothschild Investment Corp IL raised its stake in shares of Novartis by 26.9% during the 4th quarter. Rothschild Investment Corp IL now owns 26,200 shares of the company’s stock worth $2,200,000 after purchasing an additional 5,550 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Novartis during the 3rd quarter worth about $1,245,000. Finally, Cedar Hill Associates LLC acquired a new position in shares of Novartis during the 3rd quarter valued at about $248,000. 10.80% of the stock is owned by institutional investors.
A number of research analysts have recently commented on NVS shares. Zacks Investment Research lowered Novartis from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Bank of America lowered Novartis from a “neutral” rating to an “underperform” rating in a report on Wednesday, December 6th. UBS Group reissued a “neutral” rating on shares of Novartis in a report on Monday, January 15th. Nord/LB reissued a “neutral” rating on shares of Novartis in a report on Wednesday, December 27th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis in a report on Thursday, January 18th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $87.51.
Novartis (NYSE:NVS) last released its earnings results on Wednesday, January 24th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.04. The firm had revenue of $12.92 billion for the quarter, compared to analyst estimates of $12.65 billion. Novartis had a return on equity of 16.03% and a net margin of 15.69%. The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. analysts expect that Novartis AG will post 5.36 earnings per share for the current year.
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Novartis Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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